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Search Results 0 to 49 of about 290 (some duplicates have been removed)
we're looking at if we were to absorb the increase in hotel tax revenue into the general fund? >> i don't know if i have that number off the top of my head. i do have it at my table. can i get it for you in a moment? >> yes, thank you. >> okay, colleagues? any other questions at this time? supervisor mar? >> thank you, ms. howard, i was going to ask you, i know that we're going to talk about set-asides in a moment, so the five year plan assumes the reauthorization of proposition h or the public education enrichment fund and the children's fund, is that right? >> that's correct, supervisor. we certainly discussed what made the most sense to assume, but given the significant interest and the importance of both of those funds, we assumed that both of them would be reauthorized and to the degree that they were -- if they were not to be reauthorized, that would change the projection. >> and given how voters of overwhelmingly supported the children's fund and prop h over the years, hopefully that's a good assumption. there is an amount of money that as the trigger has been pulled for the
into the city's general fund. so, it is a very difficult threshold because generally because property taxes are single largest revenue source even in the worst years in this past recession, our property tax, the worst it was, it was a little bit over flat, just a little bit of an increase, less than 1%, but because property taxes is our largest revenue, it's infrequent that our revenues in one year would be less than the actual amount received in the prior year. the budget may drop to 50% of what's left in the rainy day reserve but no more than the shortfall of general day revenue and additional withdrawal allowance to up to 25% of the reserve is -- can be done by the san francisco unified school district and it's based on an inflation adjusted per pupil revenue, so as ms. howard said earlier, we're not sure, we're assuming the school district will be able to draw from the rainy day reserve but they're getting a bump from the reserve from the state, but this particular formula is quite generous, and therefore, it's likely that they will still not be up to the level that's required by formul
property tax base, so housing prices, the strength of our tourism economy as well as job growth. as you might imagine, revenue projections are sensitive to the overall economic condition of the city so to the degree that the pay for the recovery is slower or federal spending cuts are more significant than what we -- than we're factoring in at the moment, those projections could change. overall, the plan assumes more conservative growth rates on revenue in the third, fourth and fifth years of the plan. one to have reasons for that is that we are now going into a pretty -- into a sustained period of economic recovery and over the last number of years, we know that we haven't been able to -- we've seen booms and busts in our economy so we need to be i think responsible in our revenue projections in those third, fourth and fifth years. there's still growth rates assumed but just at a lower level. >> ms. howard, quick question for you, and i appreciate that comment, i think as you look at economic cycles and so forth, you can make an argument that we're going into a shorter economic swing, h
discretionary revenues, this is our revenue sources, taxes, does not include federal and tax [inaudible] and the way these work, supervisors, when they were established, we took a snapshot as to how much general fund money these departments received during that year and we grow that amount based on the growth of these general fund revenues so in the current year for the municipal railway, we have approximately 154 million that is appropriated to them and an additional 58 million dollars for parking and traffic, similarly with the library, 53 million, children services, 115 and this particular baseline is the only one that we overfund that is we provide them with more dollars that is required by formula. the public education services baseline, we need to maintain the level of funding that was provided to the school during the years during that 6.7 million and then re are the amounts for the public education enrichment fund. so, taken together, all of these baselines amount to 450 million dollars of discretionary funds. and then similar to those baselines, we have others that are specifie
the last time that the city was able to fund the hotel tax allocations at the level that the code recommends was fiscal year 2007-2008, so it's been a number of years that we have deferred that or captured that growth for the general fund, and you're also correct to say that the fiscal 13-14 budget that was adopted last year assumes that the growth in the hotel tax benefits the general fund, so that's already been -- the board last year made a choice to utilize those hotel tax resources for the general fund rather than allowing for growth. >> just for a point of clarification around the hotel tax legislation, how is the general fund able to absorb that increase separately from what's required according to the legislation based on the cap of what art entities receive? i know that it's not to decrease or increase, i think it's either 5 or 10 percent and anything above that can be captured by the general fund and so i'm trying to understand exactly how the general fund has been able to capture that without increasing those hotel tax recipients? >> i think it's a good question, superv
revenues including property transfer taxes above the average of the last five years are deposited into this reserve, so if we have a very, very high year of property transfer tax, you hear the controller tell you year after year that these are volatile, we can't dountbacker count on them continuing, so 75% of that growth would be deposited into the stabilization reserve. withdrawals from the reserve are triggered in similar way as the rainy day reserve but they're spread over a three year horizon, we can withdraw up to one-third for each one of three consecutive years and the policy could be suspended for any given year by a two-thirds vote of the board, so here is the chart that you were looking for, supervisor farrell, in each of the years, we show what the balance is in the stabilization reserve, so you see that in the last three years, we have accumulated approximately 95 million dollars is projected, and then you can also see the rainy day reserve, the amounts that are left, so what is left in the rainy day reserve from the economic stabilization fund is the 23 million, so th
features it claims put brakes on the prius. >> you have tax questions? we have answers. you'll get your personal >>> state lawmakers coming up with an idea to protect school kids from tragedies like the sandy hook massacre. the lawmaker wants every school classroom door to have a lock that can be secured from inside of the classroom. abc 7 news has the story. >> one teacher saved her students by locking her class door. the security chief says there is a lesson to be learned from that. >> like what happened is that gunman went to the class rooms where doors were unlocked. the classroom that's were locked, he couldn't get in. went to the next room autos that got one lawmaker thinking it's time to mandate all california public schools have classroom that's can be locked from the inside toompblgts newer campuses have that measure 30% of the schools state wide don't. >> right now in many class rooms most older classrooms if there is an intruder the teacher has to walk outside to lock the door. because locks are on the outside of the door. >> state senator marty block believes it can be done
and utilize growth in those hotel tax revenues to support the general fund. >> thank you. >> you're welcome. so, moving on the next strategy that the plan recommends is to limit our non-personnel inflation growth, so similar to what we were talking about with the hotel tax, the plan recommends that for both non-salary inflationary costs as well as non-profit colas or grant colas to grants, that in the first two years, the city should not fund inflationary increases in either of those categories but that in the subsequent years, modest increases should be provided. and so that's that one. and then this next one is really focused on one-time revenues in savings, so you'll see in the plan that we recommend reducing the reliance on these one-time sources just because it's not rel lie financially prudent to use one-time money to fund your ongoing cost, it's like getting a birthday gift from your grandmother and using it to pay your rent every month, it's not going to be there next month, so it's the more financially responsible thing to do is to use those one-time sources of revenues for one-tim
indicated around incentivizing small businesses, 0-25, but offering them tax credits to make the cost of coverage from the employer's perspective more affordable. >> okay, great, thank you. >> commissioner o'brien. >> would you say in your opinion, that there is a lot of overlap between the two programs? i mean i'm trying to see if the health care act is left in case, which is obviously going to be the place and the other option was taken out, the health security, would that leave a wide slot or section of people that are vulnerable and not covered that wouldn't fall under the umbrella of the affordable care act? i'm trying to -- it's extremely complicated and we're finding out it's going to take a lot of work to research how these programs work on their own first, and then between each other. and i was wondering would it be easier to amend one of them to sort of just be adjusted to fill in the gaps of the care act that doesn't cover it? so that it would be easish to manage the whole thing? would time be sent better trying to engineer it that way, then trying to evolve both of
. then we look at the three-year tax return and that statement. we do a lot of home care and mom-and-pop shops. we also do start ups. we asked for approval through documents. we work a lot with people who do not know how to file taxes properly. we are mainly focused in san francisco. we are small. we focus mainly on the tenderloin, chinatown, bayview, visitation. we do a lot of expansion. people start small through the credit union and then want to go to the bank. we know we are limited. we cannot afford to give out a big loan. starting from the credit union, we educate them about filing taxes properly and then moving on to the bank, a small one, expansion, and we work with the bank. the bank and credit union are similar. we do allow tax returns, projections. credit unions do not charge an additional loan or processing fee. processing time, on a small loan, -- consumer loans probably a few days. because we require a business plan, sometimes it takes longer. business plans take a while. especially bank statements. we need to see consistent income coming in. so far, a credit union
in a bit, spectators are obviously a driver of economic and tax benefits as well. [speaker not understood] from my office is handing out a slide presentation now. i apologize for not having copies sooner. so, as you see at the bottom, it's $4 million here. i want to go to a summary slide now. here's a total budget adding together the three slides you just saw of $22.5 million. i don't have anything to add to that. basically the sum. you'll see cash escrow is zeroed out between the funding to begin with and the credit back of those funds go back to the city. so, this last slide is the break even funding analysis that i talked about earlier. again, it's by no means meant to recast the agreement, but i wanted to give a clearer picture, especially with recent reports and committee outlets about a $20 million hit to the general fund. i think -- i take it very seriously, the idea that the general fund funds a lot of services for people in the city and certainly a special event like this one should ben if youth the general fund and not create shortfalls elsewhere. ~ benefit projected at the top
by the state was a potential death now for the housing and our taxes stopped the growth of our economy. we in this room and many of us working together took on the story changes for our city some of which have vexed for years >> years. i'm proud that together we through innovation and we foerjd our way ahead. to the city commissioners and to the department heads and to our friends in the business, labor you think non-profit and other communities who spent countless hours with us in negotiations and to the great people of san francisco who rewarded us with your support at ballet in san francisco thank you, very much. together we're putting san francisco back on the right track and building a solid foundation for all our residents. my fellow san francisco's we're living in a time of astonishing innovation and unlimited process we're driving that innovation and for or against the future right here right now not just for san francisco but for the whole world. within the lab of our technologies we're developing techniques will will save lives. to our market district we're providing the world w
and run them through some basic formulas and provide our estimate for increased city tax revenue. so i submit, mr. martin has declined them to about 13 million. that's significant reductions in the transient occupancy tax, significant reduction in payroll tax. and those reductions are larger than the one-third reduction to overall expenditures partly derivative in large part by the number of sipped katz. greater numbers of syndicates leads to disproportionate increases in the transient occupancy tax as well as payroll taxes paid. ~ the retail taxes have also declined, but back out a third, same as decline in overall expenditures. we have a net decline of about $10 million projected in city revenues. >> so, just -- mr. eagan talked about a 6.1 increase, million dollar increase in hotel tax revenue. it would require a 7% increase in hotel tax over a three-month period. what is your response to that, which is a significant increase over a three-month period. do we expect during this time that's what we'll have for the america's cup event? >> my expectation for rev par is that it would see
about the action by the board of equalization to improve the increase in the state gas tax. and just to clarify what that action was in 2009, 10. the state legislature adopted legislation that basically converted of what used to be proposition 42, which was funded from the sales tax on gas into a pure, based funding source. and to accomplish that, they had to develop language that directed the board of equalization, to maintain the same level of gross revenues, that the combined base excise tax and ropcysing 42 would have generated. s so the action to approve a 3.5 percent hike in the gas tax is consistent with what would have been the taxes that the motorists would have been paying without the tax swap and the board of equalization approval. in fact, in many ways, the board of equalization approval is almost ministerial in effect and nobody knows what would happen if they had would rejected it. that has happened and the money generates 3.5 percent and the tax is an additional 3.5 cents per gallon which is 500 million a year and it is dedicated to local streets and roads and to the s
. the next one will also be on how to grain your business, with tax -- green your business, tax credits available with that. for non-profit, charitable organizations, we have a workshop coming up. that is helpful for those of you who are looking to access the committee on a durable basis. >> also, on behalf of leader pelosi, i want to thank our panel and her staff. we are tenants in this building. i apologize for the security situation that happened upstairs. if you have concerns about it, please come and see me. i would like to convey those to the landlord here so that it does not happen again. thank you. >> hi, everybody. my name is carmen chu. why don't we get started. with a marking up with the department of small business -- we have been working with the department of small business. this project started when we heard from neighborhood merchants. unfortunately, they had access issues, visibility access issues. we have been working closely with many of our partners year today to educate about these -- many of our partners year today to educate about these issues. also in terms of bo
do you want to spend tax dollars. i'm going over quickly as why should we care. quickly the abc's of the relationship of key prop k plan. special arts and how that relates to the san francisco transportation plan which you will have an update on this agenda and what was the process on the schedule. this is probably the key slide. this is the big chance for the board, public, private sponsors to get together and decide what do we want to fund in the next five years. we are looking at the 13, 14, 16, 17, timeframe. one of the main objectives of this was to develop courtesy of the advisory of citizens who put together the expenditure plan. this is to provide transparency and how do we decide which projects will be funded and which won't. and what are those projects. we can see them ahead of time for the next five years. that provides earlier opportunities and allows you can to coordinate even sponsors for the projects. as i mentioned prop k was admitted in 2003. i will go some of the details. in 2003, there was over $2 billion in state and local funds. a total of $12 billion progra
million cash. it wasn't going to be money taken from the hotel tax or from other business taxes. that money goes to the general fund for city services. and if they're coming back saying that money is going into their -- to making up their bottom line, you should hold firm on that as well. thank you, supervisors. >> thank you very much. next speaker, please. >>> [speaker not understood]. >> you can submit into the record. you've already spoken. thank you. any other person member of the public who would like to comment on the fund-raising effort? if you don't come forward we will close public comment on both of these hearings. public comment is now closed. now i would like to move on to the fund-raising effort side of things. i believe mike martin will provide an overview and then followed by perhaps the controller ben rosenfield accounting for the effort so far. i believe there may be a presentation about the economic impact report that as well, i'm open to hearing that. [speaker not understood] i'd like to get into as well. why don't we go ahead with mr. martin. and just before
shareholders blame for the 7:00's problems. >> 7 on your side tax hot line is underway. here is the number. irs and california society of enrolled agents and united way are standing by to answer your questions. >> plus, fresh fish you won't find in a couple bay area supermarkets could signal a seafood change. after 4:30... >> rivalry between apple and samsung is intensifying including construction of a gleaming new headquarters. i'm david louie. we'll have the story still to come. >> at 410 a live look at traffic. this is the skyway. it's a usual bumper to bumper crawl. left to right traffic is go together lower deck of the bay bridge a little bit better for folks on the righthand side of the screen. back wit >>> two big supermarkets market chain as nounsd they're staying away from so called franken fish. trader joes says i it will not sell a new type of genetically modified salmon. it's a cross between an atlantic and pacific salmon. this video shows kit grow twice as fast as regular salmon and fda says it won't cause health problems or harm the environment. critics say it could threaten other
, needed to be done and i looked at my tax bill a couple months ago and i wasn't supposed to have my taxes raise today do this. it went up a lot. >> thank you. i will be asking about dbi and make sure we are being coordinated on this. next speaker. >> mr. chairman, representative of the committee, i'm with the association of realtors. we support the ordinance and in particular we have been very pleased with the progress we have been making with the city staff and sponsors and authors of this legislation for one amendment that we have requested and that is to require disclosure at the time of sale. we have crafted the amendments submitted them to mr. leaney and he's committed to work with us and craft that legislation and insert it in the appropriate time as soon as possible. this will help facilitate the intent and direction of the ordinance as well as a shorter greater compliance at the time of sales. thank you very much. >> thank you very much. would that be trailing legislation? no. great. thank you, next speaker. >> good afternoon, my name is george -- i'm a native san san francisco,
in the last congress when later closing was speaker of the house. she had had 16 tax cuts signed into law to help small businesses grow and thrive. as we know, during the last 15 years, small businesses account for about 2/3 of the job growth in our country, but when the bush recession hits in 2009, 2010, small businesses were hit particularly hard. small businesses are the center of her agenda. congress under her leadership gave 27 million small businesses tax cuts. two main pieces of legislation -- the small businesses jobs act in the information you have, will create a total of 500,000 jobs and create eight tax cuts. they are all described in the packet you have. also, unleashing up to $300 billion in credit for small businesses to access. there are another eight tax cuts that were passed through a number of different laws. some of our panelists will address those. even though now we are in an environment where there is a republican majority in the house and a slimmer majority in the senate, please note that the leader and democrats are going fight hard to keep their agenda and restart
vitality of the population. our population grew by 50%, but our tax base stayed the same. people who are here legally, especially the new american citizens, are looking for jobs and they are scarce. 22 million americans are out of work, and now the proposal is to waive the carrot of citizenship to millions more. and when we were talking about giving amnesty to millions, maybe 20 million illegal aliens, how much more scarce will those jobs become? mr. speaker, we have heard these proposals before. in 1986 we said that if we granted amnesty there would only be about 1.5 million people who would be included. in truth it turned out to be twice that amount. we were also told that it would never happen again. our borders would be secure and this problem would never occur again. in truth that was not true. so now 27 years later our borders still aren't secure and here we are doing this all over again. well, we got fooled once. by news reports we were told there were 11 million illegal aliens in this nation right now. by using 1986 as a yardstick we can guess by offering amnesty there might
without raising taxes repealing the president's health care law, converting medicare to a voucher-style system and kit federal pensions. senate democrats unveil a plan of their own, a 50-50 mix of tax hikes and spending cuts. >> boy scouts of america has a questionnaire on a change in the policy banning gay scout leaders and members, e-mailing to 1.1 million adult scouts with a list of five questions: is it acceptable for a gay and straight scout to share a tent overnight? the scouts are posing such questions as the organization tries to determine whether to lift or modify their gay ban. cow leaders will vote on the issue in may. >> the bay area newest ferry service is in financial service. why the problem could be a big win for commuters between the east bay and the peninsula. >> have you filed your taxes yet? the small mistake that could delay hundreds ♪ ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wro
consequence of furloughing state workers and the billions of tax dollars save >> good morning, everyone, 4:50 on abc7 news. a live look from our high definition roof tom camera -- top camera in san francisco, you can see the buildings and not the fog. mike will tell us about the weather including a chance of rain next week. >> you will soon have another option to get around a bay area because of a bicycle sharing program. there is an agreement with a pilot program for bicycle share. you can pick up and drop off bicycles at 70 locations between san francisco and san jose. the cost is still up in the air. a similar program in washington, dc, charges $75 for an annual pass. >> the spring break is leading san francisco's muni system to reduce service while students are out of school part of a strategy they first tried over the holiday season in december when fewer people were using the city buses and trolls and streetcars. this will we reduce the frequency on a dozen routes from march 25 to march 29. they saved $275,000 by reducing routes during the holiday season. >> there is word that twitte
go about securing funding for the various graffiti programs? do you use grants, tax assessments, et cetera? anybody? >> i think i can take that. >> okay, ready. >> for anyone who didn't attend my session, i do a juvenile program where i take kids who have been convicted of graffiti crimes to do community service on saturdays. the way i do this is get a public grant from department of public works where we take kids out to graffiti hot spots, we paint over graffiti and they get a reduced fine and credit for probation officers. this is done through a public grant. it's a very effective program. we have been able to turn a lot of kids around, restore justice. we get a lot of positive feedback from the community, a lot of other officers are happy to get the overtime. and as an officer, you're really able to facilitate the program well because you are able to put on a lot of different hats, communicate with probation, you communicate with traffic court judges, with community referral center, and with station personnel. so, you really act as a good communicator and facilitator in the prog
clara. >> tonight the council agreed to waive a 9.5% hotel tax on the 350 rooms the staff will occupy. it will also waive a 10% ticket surcharge and a 35 cent ticket fee funding senior and youth programs and a $4.54 parking fee will be waived. >> by having fees waived it makes us more attractive. even though we have all of this to offer it is the first time we are doing this. we want to make sure we are competitive. >> santa clara is going up to host super bowl 50. miami has already hosted 10 super bowls. but sources say they can't afford to waive the hotel tax. hotel managers meantime say temporarily waiving the tax won't affect their bottom line. >> the exposure we will get here during the super bowl event will more than make up for anything that is lost. >> by exempting the rooms left to nfl employees and nfl workers they would be exempt to the tax on those rooms and that money would not be paid. >> reporter: some worry about what santa clara is is conceding in order to win this bid. but the majority of those here tonight couldn't be happier with the possibility of hosting a super
approved a measure that exempts several tax measures for the n-f-l. kron 4's j.r. stone talked with santa clara's mayor who says this is a win win deal for everyone. while some still question this move?.mayor jamie matthews told me tuesday evening that the city will as part of the agreement that was unanimously approved?.hotel tax?s for 350 of those with the nfl will be waived. two tax surcharges that would go to funding the new stadium are also waived among other things. the mayor says money will be made back from filling hotels and also private donors. some that i talked with this evening are still not happy with the city?s decision. santa clara is competing with miami for the 2016 super bowl. miami however chose not to give in to these requests made by the nfl. mayor matthews believes this move puts santa clara in a prime position to get the big game. while there was lots of super bowl talk tonight keep in mind the nfl won?t make their decision on a location until late may. reporting in santa clara j.r. stone kron 4 news. now to a developing story in san jose. police are looking for a
the council agreed to waive a 9.5% hotel tax on the 350 rooms the staff will occupy. it will also waive a 10% ticket surcharge and a 35 centfd youth programs and a $4.54 parking fee will be waived. >> by having fees waived it makes us more attractive. even though we have all of this to offer it is the first time we are doing this. we want to make sure we are competitive. >> santa clara is going up to host super bowl 50. miami has already hosted 10 super bowls. but sources say they can't afford to waive the hotel tax. hotel managers meantime say temporarily waiving the tax won't affect their bottom line. >> the exposure we will get here during the super bowl event will more than make up for anything that is lost. >> by exempting the rooms left to nfl employees and nfl workers they would be exempt to the tax on those rooms and that money would not be paid. >> reporter: some worry about what santa clara is is conceding in order to win this bid. but the majority of those here tonight couldn't be happier with the possibility of hosting a super bowl. >> i support the super bowl in santa clara beca
for 2013, and adjusting the access line tax by the same rate. >> thank you. we have monique zamuda from the controller's office. >> good morning, members of the committee, monique zamuda deputy controller. consistent with the 911 fee requirements, the controller reviews on an annual basis, the consumer price index that allows us to set the fee based on the consumer price index that we have determined this past year to be 2.22%. and what is before you this morning is a resolution agreeing with that and authorizing us to increase the access line tax rate consistent with stpi adjustment. >> okay, thank you very much. colleagues, any questions for ms. zamuda? seeing none, we'd like to open this up to public comment. any members of the public who wish to comment on item number 1, please step forward. >>> good afternoon, budget subcommittee. ♪ you fell into a budget ring of fire the tax, it went it went all hire and it burns, burns, burns the ring of fire because your mind the taxes shine you walk the tax line because makes the tax shined you walk the line >> thank you, mr. paulson. (applau
about how tax dollars come in and what funds and how they're spent by the city. but i would remind you in even my greatest enthusiasm, i always have the caveat, it would be our best efforts to do it. there was no way we could possibly guarantee it. >> and maybe ms. mcclellan can explain that $8 million concession agreement which is now a loan and how that operates as well. >> right, she can. thank you. >> thank you, good afternoon, i'm kerry mcclellan, ceo of the america's cup organizing committee. i'm going to sort of take these in order in response to your question about the opportunity for local corporate donors. we launched late last year a program called 1sf celebrating the cup, hiring two additional fund-raising counsel that had expertise with working with the local corporate community. and we're now in the market on that and have a number of verbal pledges. and i have to say that both mayor lee, but also lou ten an governor newsome and senator finestein and leader pelosi and others are leaning into that effort. i'm optimistic that just as we have worked hard to bring philanthrop
together and been working to promote this worldwide which is going to be a benefit for our city and our tax coffers and our general budget. so, thank you for your time. >>> african diaspora maritime is in court and the new york state supreme court with an appeal, and i understand that there will be preliminary arguments in april. it's clear that kgyc, the acoc, oracle, san francisco lieutenant governor's office used inflated reports [speaker not understood] and tried to pull off the largest urban waterfront land deal in the country. i think it's about time that serious consideration be given to postponing the america's cup. larry ellison has already taken warren buffett's giving pledge to give his wealth to charity. i think that it might behoove him and others to invest in this america's cup. and allow teams that represent billion of people on the planet, whether they be blacks, hispanic, youth, women, chinese, the commonwealth, to participate and also to create many more festival-like events around the country. and these, i believe, should be funded by the group of individuals that have pr
are on the table from consolidations to furlough days and asking the community to support a tax. since the beginning of the recession allen rock avoided some of the more painful cuts other districts went through. while the math is tough for grown ups the lesson is harder for the kids. >> i don't know how to explain to him you have to go to school because of no funding. gl i don't feel like leaving. i like this school. >> that was kris sanchez reporting. >>> he once wrote laws and policies for santa clara county. today the former president of the board of supervisors is on the wrong side of the law. george shirakawa pled guilty to 12 charges including felony regarding public money he reportedly used to feed a gambling addiction. what was his reaction today? >> reporter: given the d.a. said there was a dark cloud over santa clara county shirakawa didn't speak. fierce fighter for the poor and under privileged told the judge he broke the law. 12 times the judge asked former supervisor george shirakawa how he pled and 12 times shirakawa responded guilty. >> it's a very sad day when a super
meltdown. the parliament rejected an unprecedented tax on bank deposits. that was a key part of the eu bailout terms. the finance minister is in moscow today with mounting speculation that russia could step in with a safety plan to safeguard russian deposits in cyprus. steve sedgwick is in moscow where he caught up with the finance minister there an hour or so ago. steve? >> they turned to russians once again. there's a loan on the table from russians dating back from 2011 so it's not the exception to it the rule for the cypriots to turn to the russians. the russians themselves are indignant they weren't brought into talks. let's hear what he had to say earlier on about the state of the current talks. >> first meeting very constructive. very honest discussion. we underscored how difficult the situation is and we'll now continue our discussions to find a solution by which we hope we will get some support from russia. >> in terms of that support, are we talking about a change of terms for the current existing 2.5 billion euro loan and an extension of 5 billion loan in addition to that? >
the budget over the next ten years. >> but no tax increases. >> no tax increases. the president already got $650 billion worth of tax increases january 1st. he got a trillion dollars worth of tax increases in obama care. this year the federal government will bring in more revenue than any year in our history and yet we're still going to have a trillion dollars budget deficit. spending is the problem. >> the white house says in response, yes, it's true. taxes went up more than $600 billion over ten years at the end of the year but it is also true the white house put $1.5 trillion worth of spending cuts in their budget. the truth is you're both right. i mean, they have offered spending cuts. the taxes did go up. it still hasn't made enough of a dent. you still have to sit down and do something. >> right. i think we're doing our budget this year. actually we're doing it this week here in the house. our budget will balance in ten years. we're going to pass our budget. hopefully the senate will pass their budget. except their budget never comes to balance. the president's budget never comes to b
Search Results 0 to 49 of about 290 (some duplicates have been removed)